Do I have to move my house, cars, and other assets into the trust for it to work? – North Carolina Short Answer In North Carolina, a trust generally only controls the assets that are actually transferred into it (often called “funding” the trust). If a home, vehicle, or account stays in an individual name,…
Do I still need a will if I set up a trust? – North Carolina Short Answer In North Carolina, most people still need a will even if they set up a trust. A trust controls the assets that are actually titled in the trust (or payable to it), but a will acts as a…
How can I make sure my estate plan is current and legally valid if it was prepared a while ago? – North Carolina Short Answer In North Carolina, an older estate plan is often still legally valid if it was signed with the right formalities, but it may no longer match current goals, family circumstances,…
How does a trust keep my home and vehicles out of probate compared to a will? – North Carolina Short Answer In North Carolina, a will does not avoid probate for assets titled in an individual name at death; it generally works through the probate court process to transfer title. A properly funded trust can…
What type of trust makes sense for my situation and goals? – North Carolina Short Answer In North Carolina, the “right” trust usually depends on one decision: whether the trust needs to stay flexible (often a revocable living trust) or needs stronger restrictions and protection (often an irrevocable trust). A revocable trust is commonly used…
How do I leave my house to a charity in my will, and can I change it later if my situation changes? – North Carolina Short Answer In North Carolina, a house can be left to a charity by naming the charity as the beneficiary of the real estate in a properly executed will and…
Do my cars have to go through probate, or is there a way to transfer them at death without adding someone to the title now? – North Carolina Short Answer In North Carolina, vehicles often can be transferred after death without a full probate estate, depending on how the vehicle is titled and the size/structure…
How do I set up a trust, and what are the steps in the process? – North Carolina Short Answer In North Carolina, setting up a trust usually means (1) choosing the right type of trust, (2) signing a written trust agreement that names the trustee and beneficiaries and explains how the trust works, and…
What type of trust makes sense if my parent wants their assets managed and protected as they get older? – North Carolina Short Answer In North Carolina, the trust that most often fits this goal is a revocable living trust designed for asset management during incapacity, paired with a clear plan for who steps in…
What documents should be included with a special needs trust to make sure both spouses and the child are protected? – North Carolina Short Answer In North Carolina, a special needs trust usually works best when it is paired with “funding” documents that direct assets into the trust and “backup” documents that keep a spouse…